Celsius Plans to Unstake $466M in Ethereum, Distribute $2B to Creditors as Former CEO Faces Fraud Charges
• Celsius Network unstaking $466M in Ethereum to ensure liquidity for distributing assets to creditors • Came after Celsius filed for bankruptcy protection in July 2022 amid crypto market downturn • Judge approved repayment plan returning 67-85% of investments to creditors • Around $2B in Bitcoin and Ethereum to be distributed to creditors • Former Celsius CEO Alex Mashinsky arrested in July 2023, indicted on fraud charges, trial set for September 2024